Has your Medicare supplement had a rate increase?

Published: Monday, December 19, 2005

Most all of us complain about the high cost of health care but very few people do anything about it. What can you do - especially if you are a senior citizen with limited resources? Take a couple of minutes to read this article if you would like to learn what you can do.

Most all senior citizens are eligible for Medicare when they become age 65. The hospital insurance portion of Medicare (Medicare Part A) is provided at no charge if the individual or their spouse has 40 or more quarters of Medicare-covered employment. The remaining medical insurance portion (Medicare Part B) for individuals who enroll at age 65 is rather minimal, only $78.20 per month during 2005. The good news is the monthly cost for Medicare coverage for most people is far less than what their coverage cost before age 65. The bad news is Medicare does not cover all the cost of health care.

Most people need supplemental coverage to help cover all or part of the charges not covered by Medicare. However, with 10 different model Medicare Supplement plans and hundreds of Medicare Supplement insurers, not to mention HMOs and other Medicare + Choice Plans, which is the best way to go? What is best for one person may not be the best for someone else.

This is where you come in. If you are a senior citizen, you can help control the cost of your health insurance coverage by staying informed and communicating with licensed insurance agents who sell what you need, not just what the agent has available to sell. Matching your particular needs and budget with the variety of insurance plans available in your area can be a real challenge. Even if your situation changes, you may still have options to revise your coverage to meet those changes. Visiting with an independent agent who represents several companies will give you a choice in which insurance plan is best for you.

For more information regarding how you can control your own health insurance cost, call Haley & Associates at 1-806-793-8142 or toll-free at 1-800-248-1130. There is absolutely no obligation, just opportunity. Form TXADV 131-04.